'Location of Things' startup, Pixie Technology, announced today that it has closed its Series B round of funding at $18.5 million. The funding was led by Spark Capital, an early & growth stage venture capital firm that has supported the likes of Twitter, Oculus, Slack and Medium. This round brings Pixie’s funding total to $24 million, with $5.5 million raised in 2013.
Designed to help people easily track and find their favorite everyday items, Pixie Technology combines augmented reality navigation with innovative signaling technology. It began shipping Pixie Points, its first product, to pre-order customers last year and will use this latest investment to launch new advanced product capabilities and scale production to bring Pixie to even more customers.
The company plans to invest further in expanding its Location of Things platform and ecosystem and has opened its Software Development Kit to allow developers and third parties to create new applications, building its signaling technologies into other products, devices and services. It also plans to roll out new functionalities from Q3 onwards.
Amir Bassan-Eskenazi, CEO and co-founder of Pixie Technology
The new funds will simultaneously allow us to enhance and expand our consumer proposition, while also developing our pioneering Location of Things platform that leverages the power of mesh networks.
Santo Politi, General Partner & co-founder of Spark Capital
Pixie has created a new category of product that gives location-aware digital presence to physical devices. Location is what has been missing in IoT. Pixie is an attractive platform for a set of new and interesting applications.
